Elan (ELN) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS
Elan (NYSE:ELN) issued its quarterly earnings data on Thursday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.05, Analyst Ratings Network reports. The company had revenue of $48.60 million for the quarter, compared to the consensus estimate of $56.53 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. The company’s revenue for the quarter was down 84.1% on a year-over-year basis.
ELN has been the subject of a number of recent research reports. Analysts at Berenberg Bank downgraded shares of Elan from a “buy” rating to a “hold” rating in a research note to investors on Thursday, August 29th. They now have a $15.20 price target on the stock, up previously from $14.00. On a related note, analysts at Zacks upgraded shares of Elan from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, August 21st. They now have a $15.40 price target on the stock. Finally, analysts at Jefferies Group downgraded shares of Elan from a “buy” rating to a “hold” rating in a research note to investors on Monday, July 29th. They now have a $16.50 price target on the stock, down previously from $19.00. Seven investment analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average price target of $14.03.
Shares of Elan (NYSE:ELN) traded down 0.34% during mid-day trading on Thursday, hitting $15.935. The stock had a trading volume of 2,624,435 shares. Elan has a 52 week low of $9.37 and a 52 week high of $15.92. The stock has a 50-day moving average of $15.36 and a 200-day moving average of $13.24. The company has a market cap of $8.152 billion and a P/E ratio of 4.07.
Elan Corporation, plc (NYSE:ELN) is a neuroscience-based biotechnology company.
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